The proposed P4.50 trillion government’s budget for fiscal year (FY) 2021 was finally okayed by President Rodrigo Duterte, the Department of Budget and Management (DBM) said over the weekend.
“Higher than this year’s budget by 9.9 percent and equivalent to 21.8 percent of Gross Domestic Product (GDP), the proposed FY 2021 budget aims to sustain government efforts towards effectively responding to the COVID-19 pandemic by focusing government spending on improving our healthcare systems, ensuring food security, increasing investments in public and digital infrastructure, and helping communities cope and prevail in these trying times,” the DBM said.
“The theme is consistent with the Administration’s goal of saving lives and protecting communities while making different sectors of the economy stronger and more agile,” it added.
Every peso of the proposed PhP4.50 trillion FY 2021 Budget went through numerous budget hearings and consultations with the agencies, and levels of scrutiny and approval, the agency said.
“In view of the President’s approval of the PhP4.50 trillion FY 2021 proposed budget, the DBM will be finalizing the FY 2021 National Expenditure Program (NEP) and other budget documents for submission to Congress before the 30-day Constitutional deadline,” the DBM explained.
To recall, the DBM said that among their budget priorities will be the health sector, especially with ongoing health crisis.